Tessera and STATS ChipPAC Enter Into Five-Year Patent Licensing Agreement
- Pending Litigation Is Dismissed -
Business Wire
SAN JOSE, Calif. -- January 29, 2013
Tessera Technologies, Inc. (NASDAQ: TSRA) (the “Company” or “we”) announced
today that its Tessera, Inc. subsidiary entered into a new five-year patent
license agreement with STATS ChipPAC Ltd.
“We are delighted that STATS ChipPAC joined us in moving beyond litigation,”
said Bernard “Barney” Cassidy, president, Tessera Intellectual Property Corp.
“STATS ChipPAC is a leading semiconductor assembly and test company and they
now have freedom of operation under more than 800 Tessera, Inc. patents and
patent applications.”
The companies did not disclose the specific financial terms of the agreements.
Tessera, Inc. and STATS ChipPAC also agreed to dismiss claims and
counterclaims between the two parties relating to Tessera, Inc.’s patent
infringement claims pending in the United States District Court, Northern
District of California. The Company is not providing additional financial
guidance in connection with this license.
Safe Harbor Statement
This press release contains forward-looking statements, which are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve risks and uncertainties
that could cause actual results to differ significantly from those projected,
particularly with respect to the effects and duration of the new agreement
with STATS ChipPAC. Material factors that may cause results to differ from the
statements made include the plans or operations relating to the Company's
businesses; market or industry conditions; the expiration of license
agreements and the cessation of related royalty income; the failure, inability
or refusal of licensees to pay royalties; initiation, delays, setbacks or
losses relating to the Company’s intellectual property or intellectual
property litigations, or invalidation or limitation of key patents; the timing
and results, which are not predictable and may vary in any individual
proceeding, of any ICC ruling or award, including in the Amkor arbitration;
fluctuations in operating results due to the timing of new license agreements
and royalties, or due to legal costs; changes in patent laws, regulation or
enforcement, or other factors that might affect the Company’s ability to
protect or realize the value of its intellectual property; the risk of a
decline in demand for semiconductor and camera module products; failure by the
industry to use technologies covered by the Company’s patents; the expiration
of the Company’s patents; the Company’s ability to successfully complete and
integrate acquisitions of businesses, including the integration by
DigitalOptics Corporation (“DOC”) of its recently acquired camera module
manufacturing facility in Zhuhai, China; the risk of loss of, or decreases in
production orders from, customers of acquired businesses; financial and
regulatory risks associated with the international nature of the Company’s
businesses; failure of the Company’s products to achieve technological
feasibility or profitability; failure to successfully commercialize the
Company’s products; changes in demand for the products of the Company’s
customers; limited opportunities to license technologies and sell products due
to high concentration in the markets for semiconductors and related products
and camera modules; the impact of competing technologies on the demand for the
Company’s technologies and products; failure by DOC to become a vertically
integrated camera module supplier; and the reliance on a limited number of
suppliers for the components used in the manufacture of DOC products. You are
cautioned not to place undue reliance on the forward-looking statements, which
speak only as of the date of this release. The Company's filings with the
Securities and Exchange Commission, including its Annual Report on Form 10-K
for the year ended Dec. 31, 2011, and its Quarterly Report on Form 10-Q for
the quarter ended September 30, 2012, include more information about factors
that could affect the Company's financial results. The Company assumes no
obligation to update information contained in this press release. Although
this release may remain available on the Company's website or elsewhere, its
continued availability does not indicate that the Company is reaffirming or
confirming any of the information contained herein.
About Tessera Technologies, Inc.
Tessera Technologies, Inc. is a holding company with operating subsidiaries in
two segments: Intellectual Property and DigitalOptics. The Intellectual
Property business, comprised of engineering, licensing, account administration
and litigation teams, generates revenue from manufacturers that use its
patented ideas. The DigitalOptics business delivers innovation in imaging and
optics with products and capabilities that enable expanded functionality in
increasingly smaller devices. DigitalOptics’ miniaturized camera module
solutions provide cost-effective, high-quality camera features, including
Micro Electro Mechanical Systems (“MEMS”)-based autofocus, extended depth of
field (“EDoF”), zoom, image enhancement and optical image stabilization.
DigitalOptics also offers customized micro-optic lenses from diffractive and
refractive optical elements to integrated micro-optical subassemblies. For
more information call 1.408.321.6000 or visit www.tessera.com.
Tessera, the Tessera logo, DOC, the DOC logo, and Invensas are trademarks or
registered trademarks of affiliated companies of Tessera Technologies, Inc. in
the United States and other countries. All other company, brand and product
names may be trademarks or registered trademarks of their respective
companies.
TSRA-G
Contact:
Tessera Technologies, Inc.
Rick Neely, 408-321-6756
Chief Financial Officer